2/12/2021

Feb 12, 2021


2/12/2021
Glacial Plains will not be purchasing grain on Monday, February 15, 2021. The markets are closed in observance of President's Day. We will gladly take a sell order to work on your behalf for the 7 p.m. market open on Monday night.
Corn and bean trade was higher overnight on lighter volume. Most of those gains were given up shortly after the 8:30 opening, with corn trading close to a nickel lower and spending most of the day fighting its way back. We did have a small string of daily export sales for corn totaling 9.9 million bushels announced this morning; 135,644K tonnes to Costa Rica for 2020/21, 59,964 tonnes to Costa Rica for 2021/22, and 115,577 tonnes to Guatemala. In terms of news to move the market, today didn't offer anything we did not already know. To review of the week, marketing year-to-date corn export sales at 87% of the total USDA forecast are supportive but we still have a lot of corn to ship. Argentine corn is currently a 20 cent/bu discount to US, if that discount improves, cancellations of unshipped corn wouldn't be a surprise. South American soybean production forecasts see small, steady increases after their recent precipitation. Peeking at the calendar, our next report to trade will be the NOPA bean crush report, due out next Tuesday. Stay warm this weekend, Spring is just around the corner.

Read More News

Mar 31, 2025
USDA reported corn planting acres at 95.326 million acres of corn, which would be up a little more than 5% from 2024's final number and the second highest March figure of the last ten years behind only 2020's estimate of 96.99 mil acres.  US corn stocks as of March 1st were seen at 81.51 billion bushels, which was exactly what the trade had expected and was down just over 2% from March 1 of 2024.  USDA said farmers intended to plant 83.495 million acres of soybeans, which would be down about 4% from last year and was just a hair smaller than what the trade was looking for.  March 1 soybean stocks were pegged at 1.91 billion bu's, which again was nearly exactly as the trade had expected, and was up 3.5% compared to March 1, 2024.
Mar 11, 2025
The monthly USDA WASDE report was today and it was about as boring as it can get.  The USDA took the month off leaving corn and beans carryouts unchanged.  Corn remains at 1.540 billion bushels and beans at 380 million bushels.  World ending stocks were slightly lowered on both corn and beans.  World corn was pegged at 288.94 million tonnes vs 290.3 million tonnes previously.  World beans were pegged at 121.4 million tonnes vs 124.3 million tonnes previously.  All of the South American crop production estimates were also left unchanged.  
Aug 30, 2024
Corn picks up 10 cents and soybeans improve just over 25 cents on the week to go into the holiday weekend on a positive note.  Soybean export sales have picked up the pace in a big way.  At the end of last week, sales...